German industrial giant Siemens agreed to pay nearly €1 billion ($1.4 billion) to US and German authorities on Monday to settle a sprawling corruption scandal.
German industrial giant Siemens plans to confiscate stock options belonging to former boss Heinrich von Pierer who has been accused of ignoring corrupt practices at the company, a press report said on Friday.
German industrial giant Siemens is close to reaching agreement with the US Securities and Exchange Commission (SEC) on a fine in connection with a corruption scandal, a press report said on Thursday.
German engineering group Siemens said on Tuesday it will sell its half of a computer joint venture with Fujitsu to the Japanese group for around €450 million ($566 million).
A damaging bribery scandal at German conglomerate Siemens came to court in Nuremberg for the first time on Wednesday as a former board member went on trial charged with breach of trust.
French software group Dassault Systemes on Thursday accused its German rival Siemens Software of trade secrets violation involving a "protected" list of Dassault's customers.
Greek telephone company OTE reportedly wants a German court to force engineering giant Siemens to reveal whether it paid bribes to OTE employees to secure a $1-billion contract.
German engineering giant Siemens said on Tuesday it will pursue former directors for damages, in an unprecedented move linked to a corruption scandal which broke nearly two years ago.
In the first trial over the massive Siemens corruption scandal that came to light in November 2006, a Munich district court on Monday handed a former manager a two-year suspended sentence and hefty fines for his part in paying €53 million in bribes to land foreign contracts.
Siemens appears to be backing away from huge job cuts in Germany announced earlier this month, according to a report in the <i>SĂĽddeutsche Zeitung</i>.
German engineering giant Siemens said Tuesday it planned to cut 16,750 jobs worldwide in a major restructuring drive to push down costs and boost competitiveness.
Engineering giant Siemens is planning another huge wave of layoffs in Germany with some 6,400 jobs to be cut, according to daily newspaper <i>Bild</i>.
German engineering conglomerate Siemens will try to avoid forced redundancies as it seeks to eliminate tens of thousands of jobs, chief executive Peter Löscher said on Thursday.
The head of German industrial group Siemens, Peter Löscher, told the Financial Times Deutschland on Wednesday his company’s managers are too German, white and male.
The first hearing on corruption at Siemens began Monday with a defendant acknowledging the existence of a slush funds at the giant German industrial group.
Heinrich von Pierer, former Siemens chief and supervisory board president, will not face penal charges in connection with a vast corruption scandal at the German engineering giant, prosecutors in southern Munich said in a statement on Friday.
German engineering and electronics group Siemens, gripped by an unprecedented corporate scandal, said Wednesday its second quarter net profit plunged by two-thirds following a review of its industrial projects.
An independent investigation by a US law firm has found widespread misconduct amid a massive corruption scandal at German engineering giant Siemens, the law firm's representatives announced on Tuesday.
Siemens is seeking insurance reimbursement for a portion of the damages from a corruption scandal currently under investigation, newspaper <I>Financial Times Deutschland</I> reported in its Monday edition.
The German engineering group Siemens said Tuesday it would cut 1,200 German jobs in its telecoms equipment unit as part of a major restructuring programme announced in February.
New allegations that Siemens worked for Germany’s top spy agency for over a decade and that top managers knew of a bribery scandal as early as 2003 are creating problems for Europe’s largest engineering company.
Belgium's public railway company SNCB announced on Friday it will order 305 electric passenger trains from Germany's Siemens worth €1.3 billion ($2.05 billion).
